How To Renew A Lagos State Money Lender’s License

How To Renew A Lagos State Money Lender’s License

June 17, 2022

The Money Lenders License granted in Lagos to lenders has a one year duration period, this means its usually valid between January 1st to December 31st yearly. This therefore the lenders have to renew their lenders license each year irrespective of the month license was granted

The procedure required to renew a lenders license in Lagos is similar with obtaining a lenders license initially with few minor changes. These steps include;

  1. Obtaining of Magistrate Court Form, A and B
  2. Payment of the renewal fee of N100, 000
  3. Application for the renewal of Lenders license addressed to the permanent secretary of the Ministry of Home Affairs, Lagos State and submission of all necessary documents including a copy of the previous issued License.
  4. Updated Tax Clearance
  5. 3-6 Months account statement of the lender.
  6. Tax clearance certificate/ evidence of payment of Company Income Tax
  7. A Copy of the lender’s Incorporation Documents
  8. Inspection of the Lender’s office and books by the officers for the Ministry of Home Affairs.
  9. Verification of all documents tendered.
  10. Approval of Lenders License renewal application.

After these steps are taken and approval is granted, a certificate of renewal is issued to the Lender.

Team 618 Bees

618 Bees can quickly and easily help you renew your Lagos State Money Lending License. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Lagos Ste ministry of Home Affairs.

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

 

 

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.
  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.
  • What are the terms of a contract?
    • an offer and an acceptance.
    • competent parties
    • Consideration
    • Legal subject matter
    • Mutual agreement/ Assent
    • Conesus ad idem
    • Obligation
  • If I have NAFDAC Registration number, do I still need SON registration number?

    SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

    This is irrespective of the registration done by NAFDAC
  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
  • How long does a trademark registration in Nigeria Last?

    Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time
  • Why do i need a Shareholders Agreement?

    You need a Shareholders Agreement to protect your investment in a company.  The shareholders Agreement establishes a fair relationship between all shareholders and sets out how the company is run.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp